PrimeDAO Seeks DAO-to-DAO Connections - Decentralise #20
What is a polycentric framework for governance?
PrimeDAO
PrimeDAO is a recently established project seeking to build economic bridges between decentralised communities.
The hope is that this connection will form the basis of aligned values and mutual cooperation as projects grow together.
The focus will be on improving DAO to DAO relations, working towards a ‘polycentric framework for network governance’.
There are a lot of big brain words here, but I’m definitely behind the overall premise.
Personally I’m a big believer in the need for projects in this space to work together and build on top of each other’s successes.
But how in practice will PrimeDAO achieve these goals?
Prime Liquidity Pool
The first move is a Balancer smart pool comprising DAO governance tokens.
The aim here is a ‘Liquidity Commons’ where different decentralised communities have mutual skin in the game.
The PrimeDAO docs state the pools would create shared incentives and a common monetary policy.
I’m looking forward to seeing where this goes and building better links between communities.
Connecting with different projects has been one of the highlights for me since I started at PieDAO, and the more bridges we can build, the better.
By the way, appreciate the shoutout to PieDAO here:
🍰 We want to acknowledge and thank PieDAO for doing the pioneering work badly needed in this area and the Balancer team for providing extensive support.
What’s Next?
The team cite a few future proposals in their announcement thread:
Governance swaps, where DAOS seek to decentralise their governance by exchanging Reputation (REP) across the wider ecosystem. Learn more about DAOstack’s reputation protocol.
Token swaps, where DAOs exchange stake in each other’s governance tokens. The first swap has been confirmed, with PrimeDAO and API3DAO swapping 2% of their tokens each.
Joint spending and ventures, where shared treasuries can coordinate to tackle shared issues.
They are also kick-starting their community with a token offering on November 16th.
Prime Time for Decentralised Communities
If you needed proof that we’re at the beginning of a DAO renaissance, look no further than efforts like PrimeDAO.
We’re seeing huge growth in decentralised communities, with individual projects tackling a range of issues, providing financial tools, and reacting to the constantly shifting DeFi environment with minimal centralised power structures.
I’m as excited as ever about the future of this space, and I’d encourage anyone who shares these decentralised communities’ values to get involved today.
Join the PrimeDAO discord.